£640 in 1929 → £39,488.43 in 2018

UK Inflation Calculator

£

UK Inflation Rate, £640 in 1929 to 2018

According to the Office for National Statistics composite price index, prices in 2018 are 6,070.07% higher than prices in 1929. The pound experienced an average inflation rate of 4.74% per year during this period.

In other words, £640 in 1929 is equivalent in purchasing power to £39,488.43 in 2018, a difference of £38,848.43 over 89 years.

The 1929 inflation rate was -1.11%. The current inflation rate (2017 to 2018) is now 2.20%1. If this number holds, £640 today will be equivalent to £654.08 next year.


Inflation from 1929 to 2018
Cumulative price change 6,070.07%
Average inflation rate 4.74%
Converted amount (£640 base) £39,488.43
Price difference (£640 base) £38,848.43
CPI in 1929 17.800
CPI in 2018 1,098.272
Inflation in 1929 -1.11%
Inflation in 2018 2.20%


UK inflation chart from 1988 to 2017. Based on the UK Consumer Price Index.


Buying power of £640 since 1929

This chart shows calculations of buying power equivalence over time for £640 in 1929 (price index tracking began in 1750).

According to the Office for National Statistics, each of these GBP amounts below is equal in terms of what it could buy at the time:

Year GBP Value Inflation Rate
1929 £640.00 -1.11%
1930 £622.02 -2.81%
1931 £596.85 -4.05%
1932 £582.47 -2.41%
1933 £568.09 -2.47%
1934 £568.09 0.00%
1935 £571.69 0.63%
1936 £575.28 0.63%
1937 £596.85 3.75%
1938 £604.04 1.20%
1939 £622.02 2.98%
1940 £726.29 16.76%
1941 £805.39 10.89%
1942 £862.92 7.14%
1943 £891.69 3.33%
1944 £916.85 2.82%
1945 £942.02 2.75%
1946 £970.79 3.05%
1947 £1,039.10 7.04%
1948 £1,118.20 7.61%
1949 £1,150.56 2.89%
1950 £1,186.52 3.13%
1951 £1,294.38 9.09%
1952 £1,413.03 9.17%
1953 £1,456.18 3.05%
1954 £1,484.94 1.98%
1955 £1,549.66 4.36%
1956 £1,628.76 5.10%
1957 £1,686.29 3.53%
1958 £1,740.22 3.20%
1959 £1,747.42 0.41%
1960 £1,765.39 1.03%
1961 £1,826.52 3.46%
1962 £1,905.62 4.33%
1963 £1,941.57 1.89%
1964 £2,006.29 3.33%
1965 £2,099.78 4.66%
1966 £2,182.47 3.94%
1967 £2,240.00 2.64%
1968 £2,344.27 4.65%
1969 £2,470.11 5.37%
1970 £2,628.31 6.40%
1971 £2,876.40 9.44%
1972 £3,081.35 7.13%
1973 £3,361.80 9.10%
1974 £3,901.12 16.04%
1975 £4,846.74 24.24%
1976 £5,648.54 16.54%
1977 £6,543.82 15.85%
1978 £7,086.74 8.30%
1979 £8,035.96 13.39%
1980 £9,481.35 17.99%
1981 £10,606.74 11.87%
1982 £11,520.00 8.61%
1983 £12,048.54 4.59%
1984 £12,648.99 4.98%
1985 £13,418.43 6.08%
1986 £13,875.06 3.40%
1987 £14,453.93 4.17%
1988 £15,162.25 4.90%
1989 £16,341.57 7.78%
1990 £17,887.64 9.46%
1991 £18,937.53 5.87%
1992 £19,645.84 3.74%
1993 £19,958.65 1.59%
1994 £20,440.45 2.41%
1995 £21,148.76 3.47%
1996 £21,659.33 2.41%
1997 £22,338.88 3.14%
1998 £23,104.72 3.43%
1999 £23,460.67 1.54%
2000 £24,154.61 2.96%
2001 £24,582.47 1.77%
2002 £24,992.36 1.67%
2003 £25,715.06 2.89%
2004 £26,480.90 2.98%
2005 £27,228.76 2.82%
2006 £28,098.88 3.20%
2007 £29,303.37 4.29%
2008 £30,471.91 3.99%
2009 £30,310.11 -0.53%
2010 £31,708.76 4.61%
2011 £33,359.10 5.20%
2012 £34,430.56 3.21%
2013 £35,476.85 3.04%
2014 £36,314.61 2.36%
2015 £36,674.16 0.99%
2016 £37,297.62 1.70%
2017 £38,638.38 3.59%
2018 £39,488.43 2.20%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

How to Calculate Inflation Rate for £640 since 1929

This inflation calculator uses the following inflation rate formula:

CPI in 2018CPI in 1929
×
1929 GBP value
=
2018 GBP value

Then plug in historical CPI values. The UK CPI was 17.8 in the year 1929 and 1098.27186 in 2018:

1098.2718617.8
×
£640
=
£39,488.43

£640 in 1929 has the same "purchasing power" or "buying power" as £39,488.43 in 2018.

To get the total inflation rate for the 89 years between 1929 and 2018, we use the following formula:

CPI in 2018 - CPI in 1929CPI in 1929
×
100
=
Cumulative inflation rate (89 years)

Plugging in the values to this equation, we get:

1098.27186 - 17.817.8
×
100
=
6,070%

News headlines from 1929

Politics and news often influence economic performance. Here's what was happening at the time:

  • The world's smallest country, the Vatican City, is created as an enclave of Rome.
  • Seven gangsters are killed in Chicago on Al Capone's orders in an event now known as St. Valentine's Day Massacre.
  • A final solution of a border dispute between Chile and Peru is reached after the signing of the Treaty of Lima.
  • Beginning of the Great Depression with stock market crash known as "Black Thursday".
  • ‘Black Thursday’, leads to a Wall Street crash and the biggest depression in the history of the world.

Data Source & Citation

Raw data for these calculations comes from the composite price index published by the UK Office for National Statistics (ONS). A composite index is created by combining price data from several different published sources, both official and unofficial. The Consumer Price Index, normally used to compute inflation, has only been tracked since 1988. All inflation calculations after 1988 use the Office for National Statistics' Consumer Price Index, except for 2017, which is based on The Bank of England's forecast.

You may use the following MLA citation for this page: “£640 in 1929 → 2018 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 13 Nov. 2018, https://www.officialdata.org/1929-GBP-in-2018?amount=640.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


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